Attention Occupiers: You Are Part of The World’s Richest 1%…
This might come as quite a surprise to the Occupiers, the majority of which are self-hating white liberals.
(Motley Fool) — About a year ago, The Wall Street Journal ran an article describing the plight of Americans struggling to rebuild after bankruptcy. The article highlighted Linda Frakes, who filed for bankruptcy after accumulating more than $300,000 in credit card debt.
“Ms. Frakes is now unemployed, living on $330 a week of unemployment benefits and odd jobs,” the Journal wrote. Frakes “struggled to rent a home and buy a car after bankruptcy. A used-car dealer ultimately gave her financing on a Jaguar.”
No one’s hardship should be belittled. Becoming unemployed or losing a home aren’t just financial problems. They’re social and emotional problems that strike at people’s sense of being.
But things always need to be kept in perspective. Only in America, I thought to myself after reading the article, can someone be driving a Jaguar and portrayed as living in an impoverished underclass. Context is crucial with these issues.
The recent Occupy Wall Street protests have aimed their message at the income disparity between the 1% richest Americans and the rest of the country. But what happens when you expand that and look at the 1% richest of the entire world? Some really interesting numbers emerge. If there were a global Occupy Wall Street protest, people as well off as Linda Frakes might actually be the target.
In America, the top 1% earn more than $380,000 per year. We are, however, among the richest nations on Earth. How much do you need to earn to be among the top 1% of the world?
$34,000.
That was the finding World Bank economist Branko Milanovic presented in his 2010 bookThe Haves and the Have-Nots. Going down the distribution ladder may be just as surprising. To be in the top half of the globe, you need to earn just $1,225 a year. For the top 20%, it’s $5,000 per year. Enter the top 10% with $12,000 a year. To be included in the top 0.1% requires an annual income of $70,000.
HT: Dan
Posted by ZIP on Monday, October 31, 2011, at 9:11 am | 
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“Self-hating White Liberals” are the ones who gave us Obama.
It’s a bunch of college grads and grad students who think they are a lot smarter than they are who didn’t get their ideal jobs coming out of college. Their “protesting” stems from the anger directed at their more-qualified peers who got those jobs ahead of them.
$300,000 in credit card debt – that takes some serious effort, in my view. This is a description of someone who wants, wants, wants, but doesn’t want to actually pay the price tag to get there or to patiently wait to get what they want.
How can she afford a jag and a home on 330 a week?
What am I missing here? Does she live in a trailer park?
Oh wait… she’s probably found another credit card!
Yes Rufus…so correct!
$34,000
I was quoting $54,000 not too long ago… that 34,000 figure is an even better slap upside the head of the occubaggers
Many immigrants come to North America to make decent cash while here.. but oh boy when they go back to their shithole to retire, they live like royalty with servants and everything…
King of the Shithole!
good information to back up the assertion that these occupiers are nothing but a bunch of priveledged, lazy, deadbeats.
From my experience (7+ years in Northampton, MA), the dominant quality of ANY self-respecting Lefty is self-loathing.
The jerk carrying that stupid sign needs it shoved down their throat
Actually I think they are well aware that they are part of the 1% in the world and are embarrased by that which is why they are trying to destroy the U.S. to make us equal with the rest of the world…self-loathing to the nth degree!!!